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Internal rate of return and modified internal rate of return. Quark Industries has three potential projects, all with an initial cost of $1,800,000. Given the

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Internal rate of return and modified internal rate of return. Quark Industries has three potential projects, all with an initial cost of $1,800,000. Given the discount rate and the future cash flow of each project in the following table, what are the IRRs and MIR's of the three projects for Quark Industries? \begin{tabular}{|l|c|c|c|} \hline Cash Flow & Project M & Project N & AProject O \\ \hline Year 1 & $500,000 & $600,000 & $1,000,000 \\ \hline Year 2 & $500,000 & $600,000 & $800,000 \\ \hline Year 3 & $500,000 & $600,000 & $600,000 \\ \hline Year 4 & $500,000 & $600,000 & $400,000 \\ \hline Year 5 & $500,000 & $600,000 & $200,000 \\ \hline Discount rate & 9% & 14% & 16% \\ \hline \end{tabular}

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